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Demand Based Pricing: Described methods belong to the category of demand / market based pricing:-
1. What the Traffic can Bear' Pricing
2. Skimming Pricing
3. Penetration Pricing
The price elasticity of demand is taken into account in all of the demand based pricing methods, indirectly or directly. Price elasticity of demand refers to the relative sensitivity of demand for a product to changes in its value in other words how significantly the sales of the product are affected when price is changed. If decrease or increase in the price of the product results in significant increase or decrease the product is said to be price elastic conversely, if price change does not considerably affect the sales volume, a product is called to be price inelastic.
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typesa of branding like producer''s name,picture-figure,name of product,colour
Penetration Pricing This term is refers to a pricing strategy that dictates that the price of an item being introduced into a market should be set as low as possible to develop
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what is the importance of branding policies in an organisation
WV8 is a large not for profit (NFP) public sector organisation responsible for organising the operation of publicly financed schools within its region. WV8 receives its income sole
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